Daiwa: Raises target price of Northbound Holdings (09669.HK) to 10.3 Hong Kong dollars, reiterates "buy" rating.

According to the Securities Times APP, Morgan Stanley released a research report stating that it has raised the target price of Northen Star Holdings (09669.HK) by 58%, from 6.5 Hong Kong dollars to 10.3 Hong Kong dollars, while reiterating a "hold" rating. The bank believes that the company's stock price is undervalued and expects that, driven by artificial intelligence and market integration, the company's Annual Recurring Revenue (ARR) will continue to grow steadily, which can better offset the impact of a weak macro environment compared to other enterprise-facing (toB) applications. Despite being undervalued compared to peers, Northern Star Holdings has higher revenue and ARR growth rates than the average.